CA. Krishna Prasad. Discussion paper For Workshop on Reporting and Business Intelligence Tools 22 nd Sep 12. BI Solutions for all enterprises

Transcription

1 CA. Krishna Prasad Discussion paper For Workshop on Reporting and Business Intelligence Tools 22 nd Sep 12 BI Solutions for all enterprises

2 Business Intelligence (BI) Generic briefing Is an effort of converting all transactional data generated by daily activities of an organization into valuable and timely information. Information is translated into knowledge to measure the performance and make accurate decisions. Measure the performance within the organization and with the available benchmark from outside. Initiate right action and enable the right value proposition.

3 BI as a Trend BI under present trend is for bringing in an echo system that is available across all layers of business users and decision makers being long term planning for the management, simulation proposition for the middle level business heads and operational analytics for front end team. This is achieved by creating applications using BI Tools that addresses above ability

4 BI Value Chain Primary Actor - Finance professional Create Value Proposition Prompting Action Trends Distinct Immediate Knowledge Environment Complex Information Disparate forms Data resource Voluminous

5 VITO requirements Very Important Top Official Increase in revenues Increase in bottom line Continuing Control over the resources Exhibit compliance Trends Every BI solution should address the above

6 Data sourcing - Inability to identify data source - Lack of visibility into corporate data at a detail and summary level at the same time - The need to integrate data from multiple formats Comparables - Insufficient visibility into planning process - Inconsistent assumptions - Inaccurate comparisons leading to rework - Inability to carry out simulation Continuing Challenges Delays in Reporting and Analysis - Difficulty in accessing the required data - No Central repository of data Driving the business on intuition - Inability to identify Key Process Indicators (KPIs) - Non availability of contextual information for metrics - Inflexible Performance Indicators

7 Availability of a Ready Platform - Right data being extracted, in the right format, provided to the right person at the right time - Ability for multiple individuals being able to view same data as relevant to them - Carry out more informed decisions Bringing ease in forecasting and planning process - Bringing in automation in budgeting process - User-friendly planning interface - Centralised data management BI Value Proposition Delivering verifiable, consistent and single view of information - Providing pre-built reports for various requirements - User friendly reporting formats which can be easily customized - Combination of multiple data sources (ERP, CRM, Spreadsheets, Budgets...) Translate the strategic plan into measurable elements - Identifying KPIs and flexible performance metrics - Building scorecards

8 Typical Advantages Quick to implement Retain existing procedures and formats BI Solution vide QlikView from a CA Not much tweak required in sourcing the data No additional data base or ETL required resulting in reduced cost QlikView Business Discovery platform delivers true self-service BI needing no advance training for the business users Slice and dice a full set of available data, by any dimension, to uncover potential threats or find new opportunities Improve time to value of information by reducing the need for data movement, manual extraction and analysis, and report creation Access to analytics anytime anywhere among all stakeholders and business users for a quicker understanding. Initiate actions with sound backing of accurate information. Enable change management procedure

9 Key stages of BI Data Sourcing Data Analysis Situation Awareness Risk Analysis Decision Support

10 Key Stages of BI Cont. Data Sourcing Extraction information from various sources like databases, web pages, media files, excel sheets and text documents Data Analysis Synthesizing useful knowledge from extracted information using various techniques like data mining, image analysis etc Situation Awareness Linking the useful facts, inferences and removing irrelevant information Risk Analysis Identifying reasonable decisions or courses of action based on the expectation of risk and reward Decision Support Employ various tools and strategies to help decision making

11 BI Implementation Methodology 1. Project Defining 2. Designing Project Stages 3. Configure and Develop 4. Test and Deploy 5. Cut Over and Post Production Support ORGANIZATION PLANNING Strategic Stages TOOL EVALUATION

12 2 cent value input BI implementation strategy to be broad based to encompass all the segments. A graded reciprocate implementation should be preferred over a one time all inclusive approach. Enable flexibility with ability for constant iterations. Solution should be able to adapt to existing procedures, time and effort.

13 QlikView Snapshot Dashboard with identified KPIs and multiple dimensions for report drill downs and deep dive analysis

14 We back your growth KPK faserv India Pvt Ltd, Bangalore headquartered a financial accounting and consulting company providing complete managed accounting and BI solutions Value creation from Chartered Accountants Solution provider for QlikView, a leading Business Discovery Platform

15 Presenter CA Krishna Prasad D.R. Founder Director KPK faserv India Pvt Ltd Thank You